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Fly News Breaks for September 23, 2019
Sep 23, 2019 | 07:38 EDT
B. Riley FBR analyst Lee Krowl raised his price target for Limelight Networks to $3.70 from $2.90 on expectations the company's execution will "get back on track" in the second half of 2019. Over the past 12 months, Limelight has endured both customer repricing, churn, and onboarding delays, coupled with increased network capacity investments, which have weighed on margins, Krowl tells investors in a research note. However, the analyst believes the company is positioned for improved execution, saying these issues have been well telegraphed. With expectations being reset, Limelight should be aided by secular growth in key markets such as streaming video and the launch of key edge customers, says Krowl. The analyst maintains a Buy rating on the shares.
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